Accessbank increases its authorized capital

Baku. 4 October. REPORT.AZ/ Accessbank CJSC increased its authorized capital by 20,4 million AZN or by 17% to 140,25 million AZN.

Report informs referring to the bank, capital increase is related with purchase of 4,8 million new shares with nominal value of 4,25 AZN per share by bank’s existing shareholders.

Emission and registration of shares completed on September 30.

"With the second capital increase in 2017 our shareholders demonstrate their ongoing commitment to strengthen the Bank’s equity. This enables us to better serve the financial needs of our clients and to further extend our leading position in financing Micro and SME businesses”, said Rolf Reichardt, AccessBank CEO.

Accessbank started operating in 2002 as the Micro Finance Bank of Azerbaijan. In 2008 bank was rebranded. Black Sea Trade and Development Bank, European Bank for Reconstruction and Development, International Finance Corporation and Kreditanstalt für Wiederaufbau (KfW) own 20% of bank’s shares each, also 16,53% of shares belong to Access Microfinance Holding AG and 3,47% to LFS Financial Systems GmbH.